Definition of "Noncontributory"

Brent  Mason real estate agent

Written by

Brent Masonelite badge icon

Tarheel Realty II

Employee benefit insurance plan under which an employer pays the entire direct cost of the plan; employees do not share in the cost, except perhaps through comparatively lower wages.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Coverage for exposures that exhibit a possibility of financial loss. ...

Portion of company profits allocated by an employer, in good years, to an employee's trust. Contributions on behalf of each employee are expressed as a percentage of salary with 5% being ...

Those claims that arise when two or more property and casualty insurance companies have coverage on a loss. Which company then owes which portion of the claim must be determined. ...

Explicit liability reserve, required by the national association of insurance commissioners (naic), established for all invested asset classes. Specific reserves are established for real ...

Former arrangement under which retirement benefits payable to an employee who continued to work beyond normal retirement age were frozen, and not increased in recognition of added work ...

Affiliate of the national association of life underwriters (NALU) that supports legislators in the interest of the insurance agents. One becomes a member of LUPAC through a monetary ...

Required reserve to satisfy all life insurance policy obligations and expenses according to the appointed actuary's best estimate assumptions. Numerous interest rate scenarios are tested ...

Performance of management functions associated with administering an employee benefit insurance plan, to include actuarial services, booklet and contract plan designing, billing, ...

Coverage for property loss liability as the result of negligent acts and/or omissions of the insured that allows a spreading fire to damage others' property. Negligent acts and omissions ...

Popular Insurance Questions